GrafTech sees 1H15 EBITDA $45M-$55MThe company’s expectations, excluding the impact of special charges, are as follows: First half 2015 EBITDA target of $45M-$55M; First half 2015 operating cash flow of approximately $40M-$50M; Full year 2015 inventory reduction of approximately $50M; and Full year 2015 capital expenditures of approximately $60M-$70M. GrafTech is reviewing plans to further optimize the production platform for its advanced graphite materials business and expects a potential charge of up to $10M in the first half of 2015 related to this review. Current estimates indicate that the optimization could improve operating income by $5M annually. The 2015 graphite electrode order book continues to be built, with approximately 60 percent of targeted order volumes confirmed. Of the orders booked to date, 2015 graphite electrode prices are on average lower than 2014 year-end pricing. Pricing for products in the Engineered Solutions segment is also lower. The company's previously announced cost savings programs remain on track and are anticipated to deliver $50M in cash savings to benefit 2015 EBITDA results, offsetting the impact of lower pricing. While the company expects to benefit from falling oil prices in its needle coke and graphite electrode businesses, lower near-term graphite electrode operating rates, driven by plans to further reduce inventory, are expected to largely offset this benefit.